Tesla Inc. is one of the world's leading electric vehicle manufacturers, known for its line of popular electric vehicles, including the Model S, Model X, and Model 3. The company also produces solar panels and energy storage solutions such as the Powerwall and Powerpack. Investors closely watch Tesla's key decisions as they can impact the other US listed companies connected to Tesla. These companies are involved in the development, production and distribution of Tesla products and services. Investing in these companies offers exposure to the growth opportunities of Tesla's products and services. As the demand for electric vehicles and renewable energy continues to grow, investors see potential for more growth in revenue and earnings, and higher stock prices.
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Auto chip demand slumps, leading to a successive downward revision of earnings expectations and a sharp drop in stock price at STMicroelectronics | Financial Report News
Due to the continuous low demand for chips in the automotive industry, STMicroelectronics has lowered its annual revenue and profit expectations for the second time. It is expected that the annual revenue will be between 13.2 billion and 13.7 billion US dollars, previously expected to be between 14 billion and 15 billion US dollars, with market expectations of 14.29 billion US dollars.